TPG fills logistics strategic gap in the Nordics with DSV A/S joint venture
Mail, Express and Logistics company TPG N.V. announced today that through its division TNT Logistics, it has acquired a 50% stake in DFDS Transport Logistics (registered as DSV Logistik Holding A/S), a subsidiary of DSV A/S. The joint venture creates a leading logistics player in the Nordic region and fills a strategic white spot in TPG's European logistics activities.
DSV A/S is a transport, logistics and environment group, with a strong base in Denmark, Sweden, Norway and Finland. DSV A/S has recently restructured and separated its Nordic logistics business from the rest of the group. This separate entity is called DFDS Transport Logistics. DSV A/S will retain ownership of the remaining 50% of the company.
DFDS Transport Logistics employs some 700 staff and offers services in TNT Logistics' key strategic sectors of fast moving consumer goods, hi-tech and automotive. The company operates 40 multi-user warehouse sites totalling 300,000m2 in Denmark, Sweden, Finland and Norway. Its customers include major international and local companies in the Nordic region. Annual revenues in 2001 were approximately EUR 110 million. The joint venture will become one of the leading logistics players in the Nordic region and will trade under the name TNT DFDS Transport Logistics.
Roberto Rossi, TPG's Group Managing Director for TNT Logistics, says: ”The joint venture fills a white spot for TNT Logistics. The Nordic region is a key area of expansion for us. The region has above average growth for outsourced logistics and is also positioned as an entry point to the Baltics and the Russian markets. TNT Logistics brings to the joint venture a wide range of logistics expertise, know-how and customer relationships, which is expected to boost revenue growth and profitability of the company in the near future. Also, via the extensive European network of TPG, the company will be able to provide more extensive logistics services for its Nordic multinational clients across the Nordic region and throughout Europe.”
The joint venture is subject to approval by the appropriate competition authorities.
TPG N.V., with its two brands TNT and Royal TPG Post, is a global provider of mail, express and logistics services. It employs over 141,000 people in 59 countries and serves over 200 countries. The company reported sales of € 11.2 billion in 2001. In the first quarter of 2002 sales grew by 8.5 percent. TPG N.V. is publicly listed on the stock exchanges of Amsterdam, New York, London and Frankfurt.
TNT Logistics, a division of TPG, employs more than 31,000 people who operate in 32 countries managing over 5.2 million m2 of warehouse space. In 2001, TNT Logistics reported sales of € 3.1 billion
AFX NL 2nd May 2002
DSV SELLS 50 PCT OF DFDS TRANSPORT LOGISTICS TO TNT LOGISTICS FOR 271 MLN DKR
COPENHAGEN (AFX) – DSV AS said it has agreed to sell 50 pct of its DFDS Transport Logistics division to TNT Logistics Holding BV, a unit of TNT Post Groep NV, for 271 mln dkr.
The purchase price is based on a total value of DFDS Transport Logistics of 542 mln dkr, of which TNT Logistics pays 50 pct, it said.
DSV will book an extraordinary gain after tax of about 80 mln dkr, it said.
The new joint venture, to be called TNT DFDS Transport Logistics, gives DSV a unique opportunity to gain access to the professional and world-wide logistics organization of TNT Logistics, it said.
TNT DFDS Transport Logistics will employ about 700 people and will offer integrated logistics solutions within a wide range of industrial segments, it said.
The closing of the agreement awaits approval of the authorities including the competition authorities of the EU, it said.
DSV acquired DFDS Transport Logistics from DFDS AS at the end of 2000.
